Lusaka, 10th October 2023 – The Finance and Administration Committee of the Board of Directors of Industrial Development Corporation (IDC) is pleased to announce the appointment of Mr Cornwell Muleya as the Chief Executive Officer of IDC with effect from 11th October 2023.

Mr Muleya brings with him over 34 years of financial and operational experience and business analysis, with demonstrated technical and leadership skills in various top management roles he has held.

He started his career at Deloitte and Touché, later he moved to DHL, PriceWaterCoopers (Zambia and Kenya) where he was responsible for financial and audit assignments. He then joined Air Botswana, where he started as Financial Accountant and rose to the position of Director Finance and subsequently CEO of the Company.

In the Aviation industry Mr Muleya focused on business solutions, capital raising, turn around strategies, re-organisation and restructuring, whilst rising to the position of CEO in Zambia, Botswana, Kenya and Uganda.

His recent position was Chief Executive Officer at Uganda National Airlines Company Limited, based in Uganda, where he successfully set up the new national airline as the consultant and later appointed to be CEO to lead the launch of operation and implementation of the Business Plan.

He is a Chartered Accountant, Chemical Engineer and Airline Executive who holds a BSc (Hons) Chemical Engineering from Bath University, UK and Fellow of the Chartered Institute of Certified Accountants (FCCA UK).

The Board is confident that Mr Muleya will aggressively and diligently drive the business and transformational agenda of the IDC to yield impactful benefits to its Shareholders and to the people of Zambia.

Furthermore, the Board would like to express their gratitude to Mrs Leya Mtonga- Ngoma, Chief Legal Officer, who has been Acting CEO since August 2023 to date. 


Issued by
(Original signed)
Namakau Mukelabai
Head Corporate Communication
Industrial Development Corporation